UBI Banca (Italy) has made an estimated US$ 240 million available to the nuclear weapons companies listed in this report since January 2012.

UBI Banca (Italy) provided loans for an estimated amount of US$ 240 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

UBS (Switzerland) has made an estimated US$ 5,122 million available to the nuclear weapons companies listed in this report since January 2012.

UBS (Switzerland) provided loans for an estimated amount of US$ 561 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by UBS

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Closing date

Maturity date

Airbus Group

4,345

76

14-3-2011

14-4-2016

Airbus Group

3,797

66

14-10-2014

14-10-2019

BAE Systems

3,161

132

8-12-2010

8-12-2015

BAE Systems

3,269

131

12-12-2013

12-12-2018

Boeing

2,300

42

5-11-2011

10-11-2016

Boeing

2,473

0

23-9-2014

15-10-2015

Boeing

2,473

0

23-9-2014

16-10-2019

Lockheed Martin

1,500

90

26-8-2011

26-8-2016

Textron

500

25

23-1-2014

23-1-2019

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

UBS (Switzerland) underwrote share issuances for an estimated amount of US$ 1,531 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of share issuances by UBS

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Issue date

Airbus Group

922

922

26-4-2013

Safran

1,218

305

15-11-2013

Safran

1,218

305

15-11-2013

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

UBS (Switzerland) underwrote bond issuances for an estimated amount of US$ 114 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by UBS

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Issue date

Maturity date

Boeing

350

10

30-4-2013

15-11-2018

Raytheon

1,100

88

27-11-2012

15-12-2022

Raytheon

300

8

24-11-2014

15-12-2024

Raytheon

300

8

24-11-2014

15-12-2044

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

UBS (Switzerland) owns or manages shares of the nuclear weapon companies for an amount of US$ 2,825 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by UBS

Company

Country

Total value
(US$ mln)

% Outstanding

Filing date

Airbus Group

The Netherlands

851

1.66

3-6-2015

BAE Systems

United Kingdom

402

1.74

1-8-2015

Boeing

United States

1,173

1.15

31-3-2015

Fluor

United States

69

0.83

31-3-2015

Northrop Grumman

United States

157

0.51

31-3-2015

Raytheon

United States

174

0.52

31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

UBS (Switzerland) owns or manages bonds of the nuclear weapon companies for an amount of US$ 91 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

UMB Financial Corporation (United States) has made an estimated US$ 27 million available to the nuclear weapons companies listed in this report since January 2012.

UMB Financial Corporation (United States) owns or manages shares of the nuclear weapon companies for an amount of US$ 27 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by UMB Financial Corporation

Company

Country

Total value
(US$ mln)

% Outstanding

Filing date

Huntington Ingalls Industries

United States

27

0.51

30-6-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

UniCredit (Italy) has made an estimated US$ 1,645 million available to the nuclear weapons companies listed in this report since January 2012.

UniCredit (Italy) provided loans for an estimated amount of US$ 1,300 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by UniCredit

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Closing date

Maturity date

Airbus Group

4,345

163

14-3-2011

14-4-2016

Airbus Group

3,797

134

14-10-2014

14-10-2019

Finmeccanica

3,181

191

28-7-2010

21-9-2015

Finmeccanica

3,001

150

9-7-2014

9-7-2019

Finmeccanica

3,001

100

9-7-2014

9-7-2019

Finmeccanica

2,212

170

6-7-2015

6-7-2020

Honeywell International

2,800

62

17-3-2011

31-3-2016

Honeywell International

4,000

73

18-11-2013

10-12-2018

Lockheed Martin

1,500

35

14-8-2014

14-8-2019

Northrop Grumman

500

13

18-8-2012

3-9-2013

Thales

1,979

88

17-12-2010

17-12-2015

Thales

1,835

122

19-12-2014

19-12-2019

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

UniCredit (Italy) underwrote bond issuances for an estimated amount of US$ 331 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by UniCredit

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Issue date

Maturity date

Airbus Group

640

96

20-10-2014

29-10-2029

Finmeccanica

777

71

28-11-2012

5-12-2017

Finmeccanica

950

59

26-11-2013

19-1-2021

Finmeccanica

339

20

17-1-2014

19-1-2021

Northrop Grumman

850

26

28-5-2013

1-6-2018

Northrop Grumman

1,050

32

28-5-2013

1-8-2023

Northrop Grumman

950

29

28-5-2013

1-6-2043

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

UniCredit (Italy) owns or manages bonds of the nuclear weapon companies for an amount of US$ 14 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

Unit Trust of India (India) has made an estimated US$ 2,096 million available to the nuclear weapons companies listed in this report since January 2012.

Unit Trust of India (India) owns or manages shares of the nuclear weapon companies for an amount of US$ 2,096 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by Unit Trust of India

Company

Country

Total value
(US$ mln)

% Outstanding

Filing date

Larsen & Toubro

India

2,096

8.16

31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

United Fire Group (United States) has made an estimated US$ 7 million available to the nuclear weapons companies listed in this report since January 2012.

United Fire Group (United States) owns or manages bonds of the nuclear weapon companies for an amount of US$ 7 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

United Overseas Bank (Singapore) has made an estimated US$ 35 million available to the nuclear weapons companies listed in this report since January 2012.

United Overseas Bank (Singapore) provided loans for an estimated amount of US$ 35 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Unum Group (United States) has made an estimated US$ 583 million available to the nuclear weapons companies listed in this report since January 2012.

Unum Group (United States) owns or manages bonds of the nuclear weapon companies for an amount of US$ 583 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

US Bancorp (United States) has made an estimated US$ 4,449 million available to the nuclear weapons companies listed in this report since January 2012.

US Bancorp (United States) provided loans for an estimated amount of US$ 3,960 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by US Bancorp

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Closing date

Maturity date

Aecom

700

35

14-10-2011

19-10-2016

Aecom

1,000

50

14-10-2011

19-10-2016

Aecom

500

43

2-3-2012

2-3-2013

Aecom

750

20

7-6-2013

7-6-2018

Aecom

655

39

16-12-2013

19-12-2018

Aecom

961

58

16-12-2013

19-12-2018

Aecom

39

2

16-12-2013

19-12-2018

Aecom

1,050

39

29-1-2014

29-1-2019

Aecom

1,925

77

11-8-2014

17-10-2019

Aecom

1,050

47

11-8-2014

17-10-2019

Aecom

500

20

11-8-2014

17-10-2019

Aerojet Rocketdyne

50

10

18-11-2011

18-11-2016

Aerojet Rocketdyne

150

30

18-11-2011

18-11-2016

Aerojet Rocketdyne

50

13

16-8-2012

16-8-2017

Aerojet Rocketdyne

100

13

30-5-2014

30-5-2019

Aerojet Rocketdyne

200

27

30-5-2014

30-5-2019

Babcock & Wilcox

700

32

22-5-2012

8-6-2017

Babcock & Wilcox

500

33

11-5-2015

11-5-2020

Babcock & Wilcox

400

27

11-5-2015

11-5-2020

Babcock & Wilcox

600

36

11-5-2015

11-5-2020

Boeing

2,300

42

5-11-2011

10-11-2016

Boeing

2,300

460

29-9-2012

14-10-2013

Boeing

2,300

460

29-9-2012

15-10-2017

Boeing

2,473

60

23-9-2014

15-10-2015

Boeing

2,473

60

23-9-2014

16-10-2019

CH2M Hill

900

72

19-4-2012

19-4-2017

Fluor

1,800

180

7-11-2012

9-11-2017

Fluor

1,700

227

28-5-2014

28-5-2019

Fluor

1,800

240

28-5-2014

28-5-2019

General Dynamics

1,000

35

14-7-2011

14-7-2016

Honeywell International

2,800

62

17-3-2011

31-3-2016

Honeywell International

4,000

73

18-11-2013

10-12-2018

Huntington Ingalls Industries

489

27

23-9-2013

6-11-2018

Huntington Ingalls Industries

650

35

23-9-2013

6-11-2018

Huntington Ingalls Industries

1,250

125

13-7-2015

13-7-2020

Jacobs Engineering

1,160

139

23-3-2012

23-3-2017

Jacobs Engineering

1,140

62

7-2-2014

7-2-2019

Jacobs Engineering

460

39

7-2-2014

7-2-2019

Jacobs Engineering

460

55

5-3-2015

5-3-2020

Jacobs Engineering

1,140

137

5-3-2015

5-3-2020

Lockheed Martin

1,500

90

26-8-2011

26-8-2016

Lockheed Martin

1,500

85

14-8-2014

14-8-2019

Moog

900

49

18-3-2011

18-3-2016

Moog

900

30

28-3-2013

28-3-2018

Northrop Grumman

575

22

31-3-2011

24-1-2017

Northrop Grumman

650

24

31-3-2011

24-1-2016

Northrop Grumman

500

13

18-8-2012

3-9-2013

Orbital ATK

400

32

9-9-2010

7-10-2015

Orbital ATK

600

48

9-9-2010

7-10-2015

Orbital ATK

200

20

3-9-2012

3-9-2017

Orbital ATK

250

25

8-10-2013

1-11-2020

Orbital ATK

1,010

67

8-10-2013

1-11-2018

Orbital ATK

700

47

8-10-2013

1-11-2018

Orbital ATK

150

15

24-6-2014

24-12-2018

Raytheon

1,400

76

13-12-2011

13-12-2016

Textron

1,000

75

30-9-2013

4-10-2018

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

US Bancorp (United States) underwrote bond issuances for an estimated amount of US$ 489 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by US Bancorp

Company

Total value
(US$ mln)

Est. participation of this bank
(US$ mln)

Issue date

Maturity date

Boeing

350

10

30-4-2013

15-11-2018

Boeing

300

9

28-10-2014

30-10-2021

Boeing

300

9

28-10-2014

30-10-2024

Boeing

250

6

18-2-2015

1-3-2025

Boeing

250

13

18-2-2015

1-3-2035

Boeing

250

8

18-2-2015

1-3-2045

Fluor

500

10

18-11-2014

15-12-2024

General Dynamics

900

39

1-11-2012

15-11-2017

General Dynamics

1,000

43

1-11-2012

15-11-2022

General Dynamics

500

21

1-11-2012

15-11-2042

Huntington Ingalls Industries

600

60

17-11-2014

15-12-2021

Lockheed Martin

750

14

12-2-2015

1-3-2025

Lockheed Martin

500

9

12-2-2015

1-3-2035

Lockheed Martin

1,000

18

12-2-2015

1-3-2045

Moog

300

23

18-11-2014

1-12-2022

Northrop Grumman

850

26

28-5-2013

1-6-2018

Northrop Grumman

1,050

32

28-5-2013

1-8-2023

Northrop Grumman

950

29

28-5-2013

1-6-2043

Orbital ATK

300

50

22-10-2013

1-10-2021

Textron

250

19

23-1-2014

1-3-2021

Textron

350

26

23-1-2014

1-3-2024

Textron

350

19

23-10-2014

1-3-2025

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

US Bancorp invests your money in nuclear weapon producers. Tell them to divest!

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

USAA Investment Management Company (United States) has made an estimated US$ 77 million available to the nuclear weapons companies listed in this report since January 2012.

USAA Investment Management Company (United States) owns or manages bonds of the nuclear weapon companies for an amount of US$ 77 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

USS Investment Management (United Kingdom) has made an estimated US$ 163 million available to the nuclear weapons companies listed in this report since January 2012.

USS Investment Management (United Kingdom) owns or manages shares of the nuclear weapon companies for an amount of US$ 163 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by USS Investment Management

Company

Country

Total value
(US$ mln)

% Outstanding

Filing date

BAE Systems

United Kingdom

163

0.71

1-8-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

Hall of Shame Methodology

Which financial institutions are involved in the financing of the selected nuclear weapon companies was researched using annual reports, stock exchange filings and other publications of the companies concerned, archives of trade magazines, local newspapers and the financial press as well as specialized financial databases (Thomson ONE, Bloomberg). Used resources are clearly mentioned.

Financial institutions can be involved in financing companies by providing corporate loans, by assisting companies with share- and bond issues, and by (managing) investments in shares and bonds of these companies. For asset managers and pension funds, the only relevant type of financial involvement is (managing) share- and bondholdings of the selected companies.

In this report, we have focussed on the financial institutions which are found to have most significant financing relationships with one or more of the selected nuclear weapon companies. To select these financial institutions, the following criteria are used:

All financial institutions involved in loans and underwriting deals for one or more of the companies since 1 January 2011;

All financial institutions which own at least 0.5% of the outstanding shares or bonds of at least one of the companies.

What is included

Each section provides the following information for each financial institution:

The types of financial relations which the financial institution has with one or more nuclear weapon companies. The relations are grouped by loans, investment banking and asset management. Financial activities are listed alphabetically by nuclear weapons company for each category.

The name of the receiving company, the amount, the date and (if known) the purpose for each financial relation.

All data is presented in tables. For loans, the first column represents the names of the selected companies that received the loans, the second column shows which subsidiary or part of the selected company has issued the loan. The third column is the purpose of the loan. The fourth column (# FI’s), shows the number of financial institutes participating in loans as loans are often offered by a syndicate of financial institutions. The fifth column represents the value of the total loan offered by the syndicate to the company. The sixth column is the amount for which this specific financial institute participated in the loan. This amount is calculated depending on the role the financial institute plays in the syndicate, as explained below. The last column shows the date the loan was issued.

The tables for underwriting of share and bond issuances have the same columns. The method for calculating these the value per financial institute can be below.

The tables for share and bondholdings managed by the financial institutions show the nuclear weapon producing companies, the country in which this company is situated, the percentage of all bonds or shares outstanding hold or managed by the specific institution, and the total value of the shares or bonds held by the financial institution in the indicated company.

When comparing this report with last years report please keep in mind that we have excluded some Indian sources due to recently identified errors in the Bloomberg databases regarding Indian Mutual Funds.

The financial institutions identified include banks, pension funds, sovereign wealth funds, insurance companies and asset managers from many different countries. They have provided various types of financial services to nuclear weapon companies.

About PAX

PAX works together with committed citizens and partners to protect civilians against acts of war, to end armed violence, and to build a just peace.
www.paxforpeace.nl

ABOUT THIS PROJECT

Don't Bank on the Bomb identifies both financial institutions that invest heavily in companies involved in nuclear weapon programmes and those that have policies limiting or prohibiting such investments.